April 05, 2013

Southwest Airlines chief executive Gary Kelly received $4.031 million in salary, bonus and stock awards for his compensation in 2012, up 15 percent from the year before.

Kelly's compensation, revealed in a Securities and Exchange Commission filing, includes a $675,000 salary and a $961,000 cash bonus. Most of his compensation game in stock awards which are valued at $2.25 million.

He also received $129,802 in other compensation including for travel benefits, home security and 401(k) plan contributions.

Chief operating officer Michael Van de Ven received the second-highest compensation among Southwest executives with $2.22 million. Chief financial officer Tammy Romo, who was promoted last year, received $1 million.

I see what you did there, Paul. I have to agree, at first I was impressed by Kelly's earnings, and then I remembered what was going on elsewhere. Sometimes receivables are just in such a sorry state. Here's hoping this can change.